Did you miss the part where they said that they keep shelling out money to Lonza to extend the option to buy ESS?
They paid $250K in November for the option.
Then they paid $400K to extend the option period in January.
Again, they paid $100K to extend the option period in February.
And then they paid another $300K to extend it through 3/31.
Yesterday they announced that they are paying Lonza another $350K to extend it through the end of April.
Their $250K option has been increased by an additional $1.15 million. AND THEY HAVEN'T EVEN EXERCISED IT YET!
If they want to extend some more, it will cost them $600K a month. No guidance as to if they will have to do so.
Anything positive is buried by the negative.
They paid $250K in November for the option.
Then they paid $400K to extend the option period in January.
Again, they paid $100K to extend the option period in February.
And then they paid another $300K to extend it through 3/31.
Yesterday they announced that they are paying Lonza another $350K to extend it through the end of April.
Their $250K option has been increased by an additional $1.15 million. AND THEY HAVEN'T EVEN EXERCISED IT YET!
If they want to extend some more, it will cost them $600K a month. No guidance as to if they will have to do so.
Anything positive is buried by the negative.